Organic Chocolate Spreads Market Size Worth $834.0 Million By 2028
Organic Chocolate Spreads Industry Overview
The global organic chocolate spreads market size is expected to reach USD 834.0 million by 2028, registering a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing consumption of chocolate-based spreads as a part of the breakfast meal coupled with consumer inclination towards organic and natural food products is expected to be a key factor driving the market over the forecast period.
The hazelnut segment accounted for the largest share of the market in 2020 and will expand further at a steady CAGR from 2021 to 2028 due to rising product innovation in this segment. For instance, in October 2019, Rigoni di Asiago launched the Nocciolata Bianca Hazelnut Spread, which is gluten-free and is high in protein. Companies all over the globe, especially start-ups, have been focusing on making products available to consumers through online distribution channels. Moreover, the increasing influence of western food habits in the Asia Pacific region has significantly increased the salability of the product in the market.
Supermarkets & hypermarkets emerged as the largest distribution channel segment in 2020 accounting for a revenue share of over 50%. These stores focus on customer satisfaction and specific food categories pertaining to organic products. Also, the availability of complete household items of all brands in one place drives the segment growth.
Europe emerged as the largest regional market in 2020 with a revenue share of more than 40%. Europe is also a key market for certified organic cocoa in the world. Furthermore, European brands benefit from a large consumer base across countries, such as Germany, the U.K., and Switzerland. The increasing trend of snacking among younger European consumers further fuels the market growth.
Organic Chocolate Spreads Market Segmentation
Grand View Research has segmented the global organic chocolate spreads market on the basis of product, distribution channel, and region:
Based on the Product Insights, the market is segmented into Hazelnut, Duo, Milk, Dark, and Others.
- The hazelnut product segment accounted for the highest revenue share of more than 38% in 2020. Hazelnut promotes heart health and is highly nutritious as it contains vitamins minerals, antioxidant compounds, and healthy fats. These are among the key factors driving the popularity of the product.
- The dark chocolate segment is projected to register the fastest growth during the forecast period. Dark chocolate-based variants are loaded with minerals, such as calcium & iron, as well as vitamins. Consuming dark chocolate that has significant cocoa content offers several health benefits including improved heart health and brain function.
Based on the Distribution Channel Insights, the market is segmented into Hypermarket & Supermarket, Online, and Others.
- Organic or conventional chocolate spreads are popular products sold in supermarkets and hypermarkets by various local and international brands. These stores attract a large number of consumers and are usually located in the central parts of a city. The prices of products in these stores vary depending on brands, which gives customers the option of choosing products from various brands depending on their budget.
- Owing to the COVID-19 pandemic, consumers have started to change their shopping habits and prefer shopping online as it helps in avoiding direct contact with others. Key players in the industry are launching e-commercewebsites in lucrative markets. The pandemic has triggered a digital explosion across many sectors, including the organic food market.
Organic Chocolate Spread Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies & Market Share Insights
The market is becoming highly competitive owing to the presence of a large number of small- and medium-scale regional players in this segment. Companies have been launching products to meet the changing consumer demands. In November 2020, Choco Group, UAB launched organic chocolate spreads under its Mulate brand. These spreads are available in caramel, tahini, hemp, blackcurrant, and nut flavors. In August 2020, the Violife brand launched Cocospread, a vegan and organic chocolate spread, in the U.K. Cocospread is a dairy-, gluten-, & soya-free and certified vegan, halal, and kosher product. Some of the key players in the global organic chocolate spreads market include:
- Nutiva, Inc.
- Rigoni di Asiago
- Phalada Pure & Sure
- Askinosie Chocolate, LLC
- The Organic Family Ltd. (Mr. Organic)
- Cocofina
- Mason & Co.
- BIONA
- Artisana Organics
- Pana Organic
Order a free sample PDF of the Organic Chocolate Spreads Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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